Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
Georgia Gaming Market Assessment - Pennsylvania Treasury
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Eastern Region Performance: 2003 Report vs. 2010 Actuals<br />
Projected 2006 Actual 2010* Adjusted** Difference<br />
Slot Revenues $1,804,214,546 $1,575,360,848 $1,717,286,341 -4.8%<br />
# of Slots 20,000 16,595 18,057 -9.7%<br />
# of Facilities 8 6 7 -12.5%<br />
WPU $247 $260 $261 5.4%<br />
Source: <strong>Pennsylvania</strong> <strong>Gaming</strong> Control Board; Innovation Group. Notes: *Without SugarHouse; **With SugarHouse,<br />
PARX, and Chester annualized based on most recent performance (Jan-April).<br />
The Philadelphia area has approximately 3,500 fewer machines than projected, and a resulting<br />
30% gap in revenues.<br />
Philadelphia Area Performance: 2003 Report vs. 2010 Actuals<br />
Projected 2006 Actual 2010* Adjusted** Difference<br />
Slot Revenues $1,197,336,173 $694,646,797 $836,572,290 -30.1%<br />
# of Slots 11,500 6,297 7,898 -31.3%<br />
# of Facilities 4 2 3 -25.0%<br />
WPU $285 $302 $290 1.7%<br />
Source: <strong>Pennsylvania</strong> <strong>Gaming</strong> Control Board; Innovation Group. Notes: *Without SugarHouse; **With SugarHouse,<br />
PARX, and Chester annualized based on most recent performance (Jan-April).<br />
As discussed, only one casino has been developed in Philadelphia, and at a smaller size than the<br />
3,000 projected. However, on a WPU basis, SugarHouse is now hitting the mark, with win per<br />
slot machine of $317 in the past three months.<br />
Central Philadelphia Performance: 2003 Report vs. 2010 Actuals<br />
Projected 2006 Adjusted* Difference<br />
Slot Revenues $656,058,607 $166,416,527 -74.6%<br />
# of Slots 6,000 1,601 -73.3%<br />
# of Facilities 2 1 -50.0%<br />
WPU $300 $285 -4.9%<br />
Source: PGCB; Innovation Group. *Annualized based on most recent performance (Jan-April).<br />
With the annualized impact of SugarHouse, the suburban Philadelphia casinos are generating<br />
$670 million in slot revenues, $129 million or 24% higher than projected.<br />
The Innovation Group Project #054-11 August 2011 Page 49